Daily Forex Fundamentals – September 14, 2011

What’s on the Economic Horizon

U.K. Employment Data on Tap
U.S Retail Sales To Rock Markets During NY Session?
Euro zone Industrial Production Figures Due Today

U.S. Dollar (USD)

Dollar trading was as mixed as bag of M&Ms, as it was simply all over the place. The Greenback gained versus the Australian dollar and pound, but stumbled against the euro, yen, and Canadian dollar. Will we see more of the same today? Read more…

Euro (EUR)

With all that’s going on in the euro zone, it’s surprising that the euro managed to score a gain against the Greenback yesterday. EUR/USD opened at 1.3664, dipped to a low of 1.3558, then managed to close 6 pips shy of the 1.3700 handle. EUR/JPY didn’t fare so well as it ended 30 pips below its 105.61 open price. Read more…

British Pound (GBP)

Here we go again! The pound returned to the losing side of the street despite seeing a rise in U.K. inflation. Amid the release of U.K. CPI and trade balance data, Cable finished the day 72 pips lower at 1.5791. Read more…

Japanese Yen (JPY)

Make that two for two for the yen this week! Once again, the yen edged higher versus the dollar, as it marked a 25-pip gain to finish tat 76.94. Is it only a matter of time till we see USD/JPY test major support at 76.50 once again? Read more…

Canadian Dollar (CAD)

Just when it looked like the Loonie was in for another round of losses against the Greenback, the Canadian currency pulled up for a strong finish and scored a win. Way to go, lil’ fella! USD/CAD opened at .9921, hit a high of .9978, before closing at .9852. How will the Loonie fare today? Read more…

Australian Dollar (AUD)

With Australian business confidence hitting a two-year low, the Australian dollar found itself struggling to make any headway on the charts. AUD/USD closed at 1.0318, down 11 pips on the day, while AUD/JPY closed 32 pips lower at 79.39. Read more…

New Zealand Dollar (NZD)

Baby steps, Kiwi, baby steps! The Kiwi managed to take another small step up against the Greenback yesterday as NZD/USD rose 25 pips on the day. Is it finally gaining momentum? Read more…

Swiss Franc (CHF)

Zzzz… WHAT A SNOOZER! Once again, price action for the Swiss franc was an absolute bore as it refused to budge against the dollar and the euro. While USD/CHF traded sideways and ended 10 pips lower to .8802, EUR/CHF was virtually flat and never traded more than 10 pips away from its opening price of 1.2042. Can we expect more of the same today? Read more…

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Head on to Big Pippin’s Daily Chart Art for some pip-locking technical setups!